Title 3 — PUBLIC OFFICERS AND EMPLOYEES
37 chapters · 1,057 sections in this title.
SDCL § 3-13-75 Participant statements
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Each participant must be provided with a statement of the participant's account no later than forty-five days after the close of each plan quarter. Source: SL 2025, ch 27 , § 102.
SDCL § 3-13-76 Selection of normal retirement date--Amendment
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A participant may select a normal retirement date. The normal retirement date may not be earlier than the date that the participant severs employment. If a participant does not select a normal retirement date, the participant's normal retirement date is as defined in chapter 3-12…
SDCL § 3-13-77 Severance from employment
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If a participant returns to employment or enters into a contract with a participating employer within thirty days after a severance from employment, no severance from employment occurs for the purposes of the plan. If a participant provided contractual services to a participating…
SDCL § 3-13-78 Distribution--Conditions
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Deferrals may be distributed only if one of the following conditions has occurred: (1) Severance from employment with a participating employer; (2) Death of the participant; (3) An unforeseeable emergency, set forth in § 3-13-82 ; (4) Requirements are satisfied for an in-service …
SDCL § 3-13-79 Distribution--Beginning date
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The distribution of deferrals to a participant may begin no earlier than thirty days following the participant's severance from employment with a participating employer. Any irrevocable election of a benefit commencement date, made by a participant or a beneficiary prior to Janua…
SDCL § 3-13-80 Distribution--Form--Election--Period
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A participant may elect to receive the participant's distribution in any of the following forms: (1) A lump sum; (2) Equal monthly installments over a fixed period; or (3) Any other form offered by the third-party administrator. The election must be made prior to the time any amo…
SDCL § 3-13-81 Distribution--Withdrawal from particular contributions
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A participant may direct from which contributions a distribution is made. The participant may direct that the withdrawal be taken from either pre-tax contributions or designated Roth contributions, or from both pre-tax contributions and designated Roth contributions. Source: SL 2…
SDCL § 3-13-82 Immediate distribution--Unforeseeable emergency
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If a participant suffers an unforeseeable emergency, the participant may request an immediate distribution of all or part of the participant's deferrals. The request must be made through an application to the third-party administrator. If the third-party administrator approves th…
SDCL § 3-13-83 Immediate distribution--In-service or involuntary distributions--Conditions--Calculation--Handling of certain involuntary distributions
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Notwithstanding any other provision of this chapter, a participant may receive an in-service distribution from the plan, or the executive director may render an involuntary distribution to the participant, under the following conditions: (1) The participant is inactive in the pla…
SDCL § 3-13-83.1 Immediate distribution--In-service distribution--Age requirement--Effect
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Notwithstanding § 3-13-83 , a participant who is at least fifty-nine and one-half years old may elect to receive an in-service distribution from the plan in any form permitted under §
SDCL § 3-13-84 Distributions deemed reasonable and made in good faith under federal law
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Any distribution under §§ 3-13-79 and 3-13-80 is deemed to be reasonable and made in good faith under § 401(a)(9) of the Internal Revenue Code. Source: SL 2025, ch 27 , § 111.
SDCL § 3-13-85 Conflict of interest
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No employee of a participating employer and no spouse or dependent of the employee may act as or represent a third-party administrator or a vendor in a matter concerning the plan, except the State Investment Council and its employees may invest all or part of the fund. Source: SL…
SDCL § 3-13-86 Assignment prohibited--Exception
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A participant may not assign or otherwise alienate any right to benefits under the plan, except through the provisions of a qualified domestic relations order, as defined in § 414(p) of the Internal Revenue Code. Source: SL 2025, ch 27 , § 113.
SDCL § 3-13-87 Trustee-to-trustee transfer or rollover permitted--Requirements
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To the extent permitted by law, a participant may transfer a portion or all of the participant's account in another plan, which is eligible under § 401, 403(b), 408, or 457(b) of the Internal Revenue Code, into the plan by trustee-to-trustee transfer or by rollover. The plan must…
SDCL § 3-13-88 Trustee-to-trustee transfer--Credited service in governmental defined benefit retirement plan
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For the purpose of acquiring credited service in a qualified governmental defined benefit retirement plan, as identified under § 401(a) and defined in § 414(d) of the Internal Revenue Code, a participant may transfer a portion or all of the participant's account in the plan by tr…
SDCL § 3-13-89 Rollover to another plan
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A participant or a participant's surviving spouse may transfer a portion or all of the participant's account by rollover to another plan, which is eligible under § 401, 403(b), 408, 408A, or 457 of the Internal Revenue Code. A participant's beneficiary who is not the participant'…
SDCL § 3-13-90 In-plan Roth conversion--Irrevocable
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A participant may convert the participant's pre-tax contributions to designated Roth contributions within the plan. The amount of the in-plan Roth conversion is subject to ordinary income taxes in the year of the conversion. Withholding of federal income tax from the conversion a…
SDCL § 3-13-91 Plan assets--Trust
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The plan and the plan's assets, until made available to a participant or a beneficiary, must be maintained in trust for the sole benefit of the participants of the plan. Source: SL 2025, ch 27 , § 118.
SDCL § 3-13-92 Effective date of change--Late filing
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Any form required under the plan which causes a change on a participant's payroll, is effective as early as the next available pay date, subject to the timing of payroll processing by the participant’s employer. If a form is filed too late for a change to be made effective for th…
SDCL § 3-13-93 Correction of errors--Excess deferrals
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If, due to an error, a participant defers more than the permissible amount, the third-party administrator may correct the error by returning the excess deferral to the participant. For any plan year in which a participant makes both pre-tax contributions and designated Roth contr…
SDCL § 3-13-94 Correction of errors--Payroll error
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If, due to a payroll error, a participant's deferral is deposited in an investment alternative other than the one selected by the participant, the third-party administrator may correct the error by transferring the participant's deferral to the proper investment alternative, subj…
SDCL § 3-13-95 Automatic enrollment units--Automatic escalation--Decision--Recission of unit’s status--Automatic enrollee’s status
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Any participating employer may become an automatic enrollment unit. Automatic enrollment includes automatic escalation for any participating employer becoming an automatic enrollment unit after June 30, 2015. The decision to become an automatic enrollment unit must be made by the…
SDCL § 3-13-96 Automatic escalation for participating employers--Automatic enrollment units prior to July 1, 2015
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A participating employer who became an automatic enrollment unit prior to July 1, 2015, may elect to add automatic escalation for the participating employer's current and future permanent employees. The decision must be made by the elected official, the appointed official, or the…
SDCL § 3-13-97 Start of automatic escalation for automatic enrollment unit--Notice required
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An automatic enrollment unit may elect to commence automatic escalation in either January or July. Automatic escalation commences the January or July immediately after the automatic enrollment unit's decision is delivered in writing to the system, as long as notice of the decisio…
SDCL § 3-13-98 Automatic enrollment--Participating employer
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Any individual who becomes a permanent employee of a participating employer, after the participating employer becomes an automatic enrollment unit, becomes an automatic enrollee in the plan. Any permanent employee of the state who is not contributing to the plan on June 30, 2019,…
SDCL § 3-13-99 Automatic enrollment--Nonstate participating employer
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An automatic enrollment unit other than the state may elect to automatically enroll the unit's permanent employees who are not contributing to the deferred compensation plan. The automatic enrollment unit may elect to commence automatic enrollment for the employees on the January…